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"I have been looking at virtually the same facts that Mike points to, and I must say that the scenario he describes is not unrealistic given the factors in play. The economic situation for the US is truly dire. The house of cards may hold up for months, even 2-3 years. But on the other hand, we could very well be seeing the beginning of the great unraveling, to use Krugman's phrase. And given the nature of the current US administration, economic hardship is likely to lead to war as their only practical means of deflecting blame. I can think of milder outcomes over the short term than the one Mike describes, but to tell you the truth I myself am plenty worried right now. I have never seen this dangerous a confluence of factors in my lifetime."
- Richard Heinberg, Dec 2, 2004
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